“We owe more than we can ever repay to the men and women of the armed services and their families.” Pappas said. “The property tax deferment at least helps them make ends meet while they protect us.”
To obtain the deferment, members of the military must apply at cookcountytreasurer.com.
Service members pay no interest on property tax payments that come due from the start of active duty until 180 days after release from duty, Pappas said. After that, the interest rate is just 6 percent per year, well below the 1.5 percent per month (or 18 percent per year) mandated by state law for unpaid taxes.
Illinois law also offers property tax benefits to veterans, including:
- Returning Veterans Exemption
- Disabled Veterans Exemption
To verify your exemptions (going back four years) and to see if you are entitled to a refund (going back 20 years), go to cookcountytreasurer.com:
- Select “Your Property Tax Overview”
- Search by address or by Property Index Number (PIN)